|
|
Article: INDIAN TERROR ATTACK TO HAVE SHORT-TERM IMPACT: ECONOMISTS.
- Article from:
- AsiaPulse News
- Article date:
- December 1, 2008
CopyrightCOPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
NEW DELHI, Dec 1 Asia Pulse - The terror attack on India's financial capital, say economists, will have a short-term impact on the economy, but sentiments could be given a boost in the medium- to long-term if the Government responds by improving the law and order.
However, Chief Economic Advisor in the Finance Ministry Arvind Virmani said non-economic shocks of this nature generally have a very little direct impact on the economy.
Virmani said, "What actually turns out to be more important in the medium- to long-term is how the system responds and deals with it."
The reforms, he pointed out, have not only to be on the economic front but they ...